How Blockchain Technology Can Benefit the Internet of Things

Blockchain technology has already gone through a peak of hype, then a “trough of disillusionment,” but it may be on an upward climb again. While the roller-coaster ride of cryptocurrencies such as bitcoin have also cast aspersions on blockchain technology –and it has—recent events such as COVID-19 and its impact on the connected economy has created new imperatives for digitizing transactions . Enter blockchain, a digital ledger technology that enables organizations to transact digitally, recording these transactions securely, immutably across several computers that are linked in a peer-to-peer network.